Measure tool; include contract value in measuring tool
Please include value of the measured move in measuring tool results, besides point and tick size of the move. Will help assist in determining potential profit or loss for move per contract, or determining lot size for a trade:
This request was merged into another request
Comments3
Worldwide Worker
Jun 23
•Merged request
•2 votes
Provide base info for all instruments: Dollar value/point and tick, ticks/pt, contract months, etc.
It would be helpful in choosing lot sizing when trading a new instrument if somewhere on the platform we could quickly look up the dollar per point value of all the instruments, as well as the tick divisions (and margin requirements. Although this doesn’t come into play, it’s still good education for serious traders.) Being able to look up contract change months info on the same chart would also be helpful. No need to explain the usefulness of such a chart. Seems all the good traders use this info, but are getting it some other way.
For example:
NQ - $20/point - 4 ticks/point - $5/tick - Contract Months HMUZ
ES - $50/point - 4 ticks/point - $12.50/tick……….
GC - $100/point - 10 ticks/point - $10/tick…….
Vetea
May 15, 2024
I used before an EA on MT5 which managed the trade. I placed the long or short position, the RR was already set to the value I wanted. The risk in % or risk equity was already set.
I just had to move the SL , the TP would have maintained the RR and the lot was calculated automatically. Very usefull for the scalping trade mode. I hope Topstep's Team will develop a similar add on.
Thank you
Vetea
May 15, 2024
In scalping, it would be difficult to take time to calculate the pips, lot, contract etc. If you can add this feature that will calculate automatically when setting the long and short position like tradovate etc.
Thank you